Stock Market LIVE Update: GIFT Nifty indicates a positive start for Indian markets

Asian stocks were trading mixed on Monday. Japan’s Nikkei rose 0.6%, while Hong Kong’s Hang Seng fell 0.5%. The Shanghai Composite edged up 0.2%.

Futures on Wall Street advanced after U.S. President Donald Trump postponed the imposition of a 50% tariff on the European Union, initially set to take effect on June 1. The new implementation date is now July 9.

Following the announcement, Dow futures rose by as much as 320 points, while futures on the S&P 500 and Nasdaq climbed 45 and 200 points, respectively.

It’s important to note that U.S. markets are closed today in observance of the Memorial Day holiday. Consequently, futures trading will pause at 12:00 PM local time on Monday and resume at 5:00 PM for the next session.

U.S. markets had declined on Friday after Trump announced the tariff hike, citing stalled negotiations and accusing the EU of being “very difficult.” The new July 9 deadline aligns with the end of the 90-day pause on reciprocal tariffs that Trump declared on April 9.